3Chopt Investment Partners LLC Sells 440 Shares of The Charles Schwab Co. (NYSE:SCHW)

3Chopt Investment Partners LLC decreased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 32,811 shares of the financial services provider’s stock after selling 440 shares during the period. 3Chopt Investment Partners LLC’s holdings in Charles Schwab were worth $2,418,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Morningstar Investment Services LLC increased its holdings in shares of Charles Schwab by 98.0% during the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after buying an additional 2,322,156 shares in the last quarter. M&G Plc bought a new stake in Charles Schwab during the 1st quarter worth $11,452,000. Daiwa Securities Group Inc. raised its position in Charles Schwab by 10.4% in the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock valued at $13,788,000 after purchasing an additional 17,925 shares during the last quarter. Wedmont Private Capital boosted its position in Charles Schwab by 12.2% during the 1st quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock worth $949,000 after buying an additional 1,430 shares during the period. Finally, Teewinot Capital Advisers L.L.C. lifted its holdings in shares of Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after purchasing an additional 64,041 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Price Performance

SCHW opened at $64.81 on Tuesday. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $115.19 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 1.21 and a beta of 0.97. The firm’s fifty day moving average price is $64.10 and its two-hundred day moving average price is $69.84.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. As a group, analysts anticipate that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Insiders Place Their Bets

In related news, President Richard A. Wurster purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were bought at an average cost of $62.05 per share, with a total value of $620,500.00. Following the acquisition, the president now owns 144,228 shares of the company’s stock, valued at $8,949,347.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Charles Schwab news, CEO Walter W. Bettinger bought 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was purchased at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the transaction, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, President Richard A. Wurster purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were acquired at an average price of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the purchase, the president now directly owns 144,228 shares in the company, valued at approximately $8,949,347.40. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 99,636 shares of company stock valued at $6,457,104. Insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SCHW. Piper Sandler cut Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $80.00 to $64.00 in a research note on Monday, July 29th. The Goldman Sachs Group dropped their price target on shares of Charles Schwab from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. Barclays dropped their target price on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Bank of America decreased their price target on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a research note on Thursday, August 22nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average target price of $73.31.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.